Robinhood CEO Draws Line Between Stock Tokens and Shareholder Rights

Robinhood CEO Vlad Tenev said publicly traded companies should retain authority over shareholder rights, but should not have the power to block separate products designed to track their shares. In a post on Friday, Tenev set out the distinction amid a dispute involving AMC and stock tokens. His comments separate corporate control over rights attached to a company’s shares from the creation or distribution of products that follow the performance of those shares. The remarks, reported by CoinDesk, address the boundaries between issuers’ governance powers and market products linked to publicly traded equities. Tenev did not suggest that companies should lose control over their own shareholder rights; instead, he argued that this authority should not extend to related tracking products.